Our market development work is important to achieving our statutory objective to promote competition in, reliable supply by and the efficient operation of the electricity industry for the long-term benefit of consumers.

If an anomalous event or outcome occurs in the market or the broader electricity sector, we investigate it to determine the causes and whether something can or should be done to prevent such an event or outcome from occurring again.

The Authority introduced DSBF on 28 June 2012. The post-implementation review focuses on how the price forecasts that were created as a result of DSBF—the non-response schedule (NRS) and the price-responsive schedule (PRS)—performed. We found that the PRS is superior to the NRS across a number of measures for both single and multiple forecast horizons. This represents an improvement in forecast performance because the system operator prepares the NRS in the same way as it prepared the price forecast that pre-dated DSBF. This improvement in forecast performance should improve efficiency in the spot market by allowing better coordination of generation and load.

The Authority is surveying spot price exposed consumers and asking them which price schedule that they use to monitor spot prices—the results will be reported on this page once they are collated.